Digitalization projects for the Oil and Gas Industry

Proceedings Publication Date:

04 Jun 2020
Presenter
Presenter
Author
Michael Barth
Part of the proceedings of
Abstract

Digitization is the combination of exhaustive internet access, computing power and storage capacity, artificial intelligence, big data, algorithmic autonomous decision making and robotics. Digitization is changing our life and the way we make business more than any other technology before. As such it requires a change of mind set before deploying this new technology.

Digitization has the potential to reduce downtimes and operation costs, increase efficiency, and to create new ways of working as well as new business models. However, digitization projects also pose some specific challenges and risks.

Digitization projects shall be implemented following an overall strategy, which needs to be revised regularly to account for a rapidly changing environment. In order to successfully implement a digitization project, sufficient knowledge about the new technologies, business models, as well as safety and cyber security issues related to extended data communication and the “digital twin” are required, to name just a few.

Once the objectives of the digitization project are defined, for each individual project the required (additional) data, computing and networking resources, required service providers and contracts, organisational changes and processes to be adapted as well as their potential impact on operation, safety and security need to be identified. These changes shall be implemented following a proven change management process for all internal processes of the company, once they have successfully passed the cost benefit analysis.

The very different aspects of developing and implementing digitization projects and a possible methodology are subject of this presentation.

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